Wheat futures rebounded toward $5.75 per bushel as intensifying logistical disruptions in the Middle East and deteriorating US crop conditions outweighed the pressure from a record South American harvest. While the US-Iran conflict has not directly halted wheat flows, skyrocketing diesel and fertilizer costs combined with a 4.8% jump in urea prices have created significant pro-inflationary risks for producers. Domestic concerns are also mounting as the USDA reported a 22% month-over-month decline in winter wheat condition ratings due to low snowpack and expanding drought across the southern Plains. These supply anxieties are colliding with a 20% projected decline in Russian exports for the 2025-2026 season as adverse weather and logistical bottlenecks in the Black Sea limit availability. Although the US dollar remains strong, the market is increasingly focused on the March WASDE report and the potential for reduced global ending stocks to sustain this price recovery.

Wheat rose to 610.54 USd/Bu on March 6, 2026, up 4.77% from the previous day. Over the past month, Wheat's price has risen 15.47%, and is up 14.39% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Wheat reached an all time high of 1350 in March of 2022. Wheat - data, forecasts, historical chart - was last updated on March 6 of 2026.

Wheat rose to 610.54 USd/Bu on March 6, 2026, up 4.77% from the previous day. Over the past month, Wheat's price has risen 15.47%, and is up 14.39% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat is expected to trade at 595.37 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 636.88 in 12 months time.



Price Day Month Year Date
Soybeans 1,185.29 20.75 1.78% 6.71% 17.33% Mar/06
Wheat 610.51 25.50 4.38% 15.46% 14.38% Mar/06
Lumber 561.07 -5.43 -0.96% -6.10% -12.48% Mar/06
Cheese 1.66 -0.0349 -2.06% 3.70% -3.60% Mar/06
Palm Oil 4,246.00 28.00 0.66% 2.24% -5.22% Mar/05
Milk 16.34 -0.13 -0.79% 7.36% -11.00% Mar/06
Cocoa 3,230.10 175.10 5.73% -22.84% -59.91% Mar/06
Cotton 64.18 0.138 0.22% 4.17% -2.94% Mar/06
Rubber 194.20 -3.20 -1.62% 3.24% -2.75% Mar/06
Orange Juice 180.06 -9.54 -5.03% 6.64% -40.58% Mar/06
Coffee 293.96 -1.44 -0.49% 0.04% -25.11% Mar/06
Oat 311.91 -18.0924 -5.48% 4.32% -13.48% Mar/06
Wool 1,767.00 0 0% 5.37% 44.24% Mar/06
Rice 10.76 -0.1300 -1.20% -3.88% -18.80% Mar/06
Canola 729.41 9.51 1.32% 9.57% 16.12% Mar/06
Sugar 14.09 0.38 2.75% -1.83% -23.15% Mar/06
Corn 447.01 5.5123 1.25% 4.26% -1.81% Mar/06



Related Last Previous Unit Reference
United States Corn Stocks 13.28 1.53 Billion Bushels Dec 2025
United States Soybean Stocks 3.29 0.32 Billion Bushels Dec 2025
United States Wheat Stocks 1.68 2.12 Billion Bushels Dec 2025

Wheat
Wheat Futures are available for trading in The Chicago Board of Trade (CBOT), Euronext, Kansas City Board of Trade (KCBT) and the Minneapolis Grain Exchange (MGEX). The standard contract unit is 5,000 bushels. The biggest wheat producers are China, India, Russia, the US, France, Australia, and Canada. Russia is the biggest exporter of wheat followed by the United States, Canada, France, Ukraine, Australia, and Argentina. Ukraine and Russia accounted for nearly 30% of global wheat exports before the Russian invasion of Ukraine. Wheat prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
610.54 582.75 1350.00 212.50 1977 - 2026 USd/BU Daily

News Stream
Wheat Rebounds on Renewed Supply Risks
Wheat futures rebounded toward $5.75 per bushel as intensifying logistical disruptions in the Middle East and deteriorating US crop conditions outweighed the pressure from a record South American harvest. While the US-Iran conflict has not directly halted wheat flows, skyrocketing diesel and fertilizer costs combined with a 4.8% jump in urea prices have created significant pro-inflationary risks for producers. Domestic concerns are also mounting as the USDA reported a 22% month-over-month decline in winter wheat condition ratings due to low snowpack and expanding drought across the southern Plains. These supply anxieties are colliding with a 20% projected decline in Russian exports for the 2025-2026 season as adverse weather and logistical bottlenecks in the Black Sea limit availability. Although the US dollar remains strong, the market is increasingly focused on the March WASDE report and the potential for reduced global ending stocks to sustain this price recovery.
2026-03-05
Wheat Drops From 1-Year Highs
Wheat futures fell to below $5.7 per bushel, retreating from one-year highs seen February 27th as a record-breaking South American harvest and a surging US dollar neutralized recent geopolitical risk premiums. While the US-Iran conflict initially triggered a price spike, the market has recalibrated against an encroaching wall of physical supply. Argentina is offloading a record 27.7 million-ton harvest, while Australian production has been revised up following favorable rains. This influx of grain coincides with a 0.9% jump in the US Dollar Index, which has sharply reduced the competitiveness of US exports. Furthermore, a favorable early-March weather pattern is promising widespread precipitation across the US hard red winter wheat belt, paring earlier drought concerns. Despite robust cumulative exports running 18.8% ahead of last year, the combination of aggressive fund selling and the rollout of new 10% US global import tariffs has effectively capped the rally.
2026-03-03
Wheat Hits 12-month High
Wheat increased to 579.50 USd/Bu, the highest since February 2025. Over the past 4 weeks, Wheat gained 8.08%, and in the last 12 months, it increased 7.88%.
2026-02-27